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CHEQUE 1925 USA THE (MERCHANTS and FARMERS) UNION NATIONAL BANK NORTH CAROLINA UNITED STATES US$150
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Product details
USA, CHARLOTTE, NORTH CAROLINA CHEQUE
Unusual that "Merchants & Farmers" has been penned out and "Union" handwritten above!!!
Perfinned / punched "PAID 16 11 25".
US$150.00.
Rear has the Merchants & Farmers National Bank purple cachet.
!!!!! 95 Years old !!!!!
FIRST UNION NATIONAL BANK
By Paul Kurzeja
Charlotte is the second largest banking center in the United States, largely because of the First Union National Bank. First Unions history goes back over 100 years to the founding of Union National Bank. In 1908, H.M. Victor raised funds by selling 1,000 Union National shares at $100 each. The first branch was a large roll top desk set in the lobby of the Buford Hotel on South Tryon Street. As a hub for railroads and textile industries, Charlottes economy was thriving. Union National benefitted from the booming local economy and despite the 1929 stock market crash, survived the Great Depression. By 1958, Union National was primed for expansion and acquired the First National Bank of Ashville. The name was changed to First Union National Bank and quickly became one of the largest banks in North Carolina. However, further expansion was difficult. Until the late 1980s, state laws throughout the country prevented banks from purchasing branches in more than one state. Fortunately, this interstate banking prohibition did not last forever. By the late 1990s, the banks acquisitions were larger, bolder and riskier. In 1998, First Union acquired CoreStates Financial, a large Philadelphia based institution and the Money Store.
Condition: Very Good. Usual folds.
Sold as seen in the images. Images form part of the description.
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